Hook Industries's capital structure consists solely of debt and common equity. It can issue debt at - 8%, and its common stock currently pays a $3.50 dividend per share (D - $3.50). The stock's price is currently $22.50, is dividend is expected to grow at a constant rate of per year, its tax rate is 40%, and its WACC 13.15%. What percentage of the company's capital structure consists of debt? Do not round Intermediate calculations. Round your answer to two decimal places